FX.co ★ Patterns GBPCHF | British Pound (GBP) to Swiss Franc (CHF) Rate in the Forex market

The Double Bottom pattern has been formed on GBPCHF M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 1.1029 is broken. The further movements will rely on the width of the current pattern 10 points.

According to the chart of M5, GBPCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.1046, the lower border is 1.1030. The signal means that a short position should be opened after fixing a price below the lower border 1.1030 of the Bearish Rectangle.

On the chart of GBPCHF H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1069; the lower boundary 1.1025; the width of the pattern 44 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0985 level.

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.1031; the resistance level 1.1046; the width of the pattern 15 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 16 points.

The Bullish pennant graphic pattern has formed on the GBPCHF M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.1075.

The Triple Bottom pattern has been formed on GBPCHF M5. It has the following characteristics: resistance level 1.1051/1.1041; support level 1.1032/1.1029; the width is 19 points. In the event of a breakdown of the resistance level of 1.1051, the price is likely to continue an upward movement at least to 1.1046.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.1002 and 1.0967 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 35 pips. Outlook: If the upper border 1.1002 is broken, the price is likely to continue its move by 1.0999.

On the chart of GBPCHF M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1008; the lower boundary 1.0998; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0976 level.

According to the chart of M5, GBPCHF formed the Head and Shoulders pattern. The Head’s top is set at 1.1015 while the median line of the Neck is found at 1.0998/1.0998. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPCHF will go towards 1.0983.

On the chart of the GBPCHF M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.0994, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 13 points.